Matthew Christopher Tucci, of New York, New York, a stockbroker formerly registered with Standard Credit Securities, Inc., has been fined $10,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he, inter alia, engaged in outside business activities and inaccurately marked customer trade orders. Letter of Acceptance, Waiver and Consent, No. 2014042567601 (Aug. 16, 2017).
According to the AWC, from January of 2012 to October of 2015, six outside business activities were pursued by Tucci involving real estate transactions. Apparently, six companies were established by Tucci, wherein the companies held title to rental properties that generated income for him. The AWC stated that Tucci was the sole member and officer of the companies, and also assumed treasurer and secretary duties. Tucci’s activities were apparently never made known to Standard Credit Securities, Inc., nor were they made known to Tradition Asiel Securities, Inc. – a brokerage firm Tucci was subsequently registered with from October 1, 2014, to September 4, 2015.
The AWC further stated that Tucci was administered two compliance questionnaires by Standard Credit Securities, Inc., wherein he falsely attested to having no outside engagements. FINRA found Tucci’s failure to disclose his outside business activities to be violative of FINRA Rules 2010 and 3270.
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